Hardware Support Services Global Market Report 2022

Hardware Support Services Global Market Report 2022

  • March 2022 •
  • 300 pages •
  • Report ID: 6246419 •
  • Format: PDF
Major companies in the hardware support services market include Intel Corporation, Dxc Technology, telefonaktiebolaget lm ericsson, International Business Machines Corporation, Dell Technologies Inc., Cisco Systems, Inc., Huawei, NEC Corporation, Fujitsu Ltd. and Accenture.

The global hardware support services market is expected to grow from $912.82 billion in 2021 to $1,035.10 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1,636.36 billion in 2026 at a CAGR of 12.1%.

The hardware support services market consists of sales of hardware support services and related goods by entities (organizations, sole traders and partnerships) that provide hardware support services including computer and peripherals support services, storage and servers support services, networking support services and others. Hardware support services may be either a reactive support, preventive-based support, or proactive support.

The main types of hardware support services are computer and peripherals support services; storage and servers support services; networking support services and other hardware support services.The computer and peripherals support services provides the devices with the external support to the computer that take in information, allow the computer to put out information in visible and audible form, and perform other important tasks.

It is provided in online and offline mode and have in warranty and out of warranty.

Western Europe was the largest region in the hardware support services market in 2021.North America was the second largest region in the hardware support services market.

The regions covered in the hardware support services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Governments around the world are investing in the creation of smart cities; this is expected to drive the demand for computer hardware products and subsequently hardware support services market during the forecast period.The European Union is actively promoting smart-city initiatives, with funds for research and sustainability targets for member states.

The concept of smart cities is becoming more popular in developing nations too.For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.

The overall smart-city experience involves systems and objects interconnected through various technologies like local, wired and wireless networks. The establishment of smart cities in turn increases the demand for the hardware support services.

The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on the hardware support services market in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021.

However, it is expected that the hardware support services market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Cloud software solutions have been gaining acceptance from companies across all industries as it eliminated the need for physical storage space required to deploy the software.The cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet.

As cloud computing services continue to grow, the demand for cloud data recovery solutions is gathering pace.Disaster recovery tools are particularly needed because the cloud stores data which is prone to cyber and malware attacks.

For instance, Kroll Ontrack offers SharePoint and SQL server cloud data recovery solutions.

The countries covered in the hardware support services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.